Going Paperless Offers Profit Sustainability

Over the past several years, the oil and gas industry has struggled with diminishing demand, evolving regulations, political uncertainty and even natural disasters. All of these challenges have forced companies to adopt new strategies to sustain profits.

Here is an alarming stat:

70% of today’s businesses would fail within 3 weeks if they suffered a catastrophic loss of paper-based records due to fire or flood.

With more than 4.6 million episodes of catastrophic business data loss happening each year, could your business survive such an event?

Oil and gas companies that are lagging behind the digital trend are now feeling the impact by not being able to maintain efficient and compliant operations. Companies continuing to rely on processes that require extensive amounts of paperwork are often unable to compete in an industry experiencing rapid changes and shrinking profit margins.

The benefits of embracing digital technology have become increasingly significant. From general operations including human resources management and accounting, to industry-specific tasks such as recording drilling measurements or maintaining safety records, the need to digitize files, reports and data has never been greater. In fact, process automation and having a digitally “connected” workforce are now necessary to meet many of the regulatory requirements mandated by law.

Companies need to invest in software that delivers consistent, trustable data and insights across the entire organization, from corporate to the field, and allows them to boost production and optimize capex and opex.

If you’re considering a paperless solution, it’s crucial to work with a company that understands the business goals and technology needs of your organization such as AiM. We offer a paperless solution called AiM DOCS. This specialized tool is designed to create efficiencies while eliminating the need for hard copy construction packages for companies that service the Oil and Gas sector.  Book at DEMO with Lane Boisjoli to learn more.